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Delayed Exchange – Relinquished property is closed first; exchanger needs to identify & close
the Replacement property within the 45 day/180 day Time Clocks.
- Relinquished Property (down-leg) closes first.
- Replacement Property (up-leg) must be identified within the 45 days from the date of closing of the Relinquished property (recording date, not when the funds
are received by EAT) and close within the 180 day period.
- Exchange must close within the 180 day period from the Closing of Relinquished Property
- Gather all docs ahead of time and get the estimated COE for both Relinquished and Replacement Property
- Inform coordinator immediately once up-leg is identified (*45-Day Letter Replacement Identification form must be completed by Exchanger)
- VERY IMPORTANT Failure to identify and submit the 45-Day Letter
causes the Exchange Agreement to terminate and Intermediary will disburse all unused funds to taxpayer.
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